Posts Tagged ‘Litecoin cloud mining’

The crypto mining and deposits with interest platform OXBTC has announced a Red Envelopes promotion in celebration to the Chinese New Year. This promotion allows newly registered users to get some free Bitcoin cloud mining hashrate at the platform absolutely free for 1 month. Depending on your luck you, when you open your Red Envolope, you might win between 1 GHS and 1000 GHS and the hashrate you get will be available in your account for 1 month and you get to keep all of the profits it generates without having to invest or buy anything. The duration of the promotion is between February 22nd and March 6th, so don’t miss your chance to get some free hashrate for a month and earn some extra BTC.

This promotion is probably in order to stimulate more people to buy cloud mining hashrate at the platform as apparently there is not much interest from users as expected with the high prices for hashrate. The initial price of $0.499 USD per GHS with $0.0009 USD per GHS per day maintenance fee was not very attractive and while there is now a new price at $0.399 USD per GHS with $0.0007 USD per GHS per day maintenance fee it is still not too attractive with the recent jumps in Bitcoin’s network hashrate and difficulty. The $13 USD per MHS for Litecoin cloud mining hashrate is also pretty high (Maintenance Fee: $0.02 / MHS / Day), even though LTC has shown pretty stable difficulty level and price for quite a while making it more predictable for profit calculation on the long term. With the not so great track record that the company previously had with the ZeusHash it is no wonder that they are not doing great with hashrate sales in this new platform as well, but when they give you free hashrate why not take it anyway.

Unfortunately their deposits with interest service is getting less attractive than it was before with Current Deposits down from 0.02% daily to 0.01% (cut in half) and the 30-Day Fixed Deposits are down from 15% APY to just 7%. Interestingly enough the HalleyBTC Bitcoin savings investment platform operated by the same people still has the same 0.02% daily interest rate and 15% APY for 3-day fixed deposits.

A new cryptocurrency investment platform has been launched called OXBTC that combines Bitcoin and Litecoin cloud mining with Bitcoin and Litecoin deposits with interest. What the service essentially combines is the ZeusHash cloud mining platform with the HalleyBTC Bitcoin savings investment platform and is apparently operated by the same people behind these two other services. OXBTC extends a bit the basic functionality offered by the other two platforms and combines them into a single one to make it easy for users, or this should be the idea, but it could as easy be considered as a rebranding just to attract new customers. The claims that they are making about the “World’s Highest ROI” on their homepage are probably a bit far fetched, especially with the cloud mining with the not so low prices and the recent serious jump in the difficulty of the Bitcoin network especially, so the part with the deposits with interest might be more attractive option.

The extra advantage available here is that you can have both deposits in BTC and in LTC and you have two options – 0.02% daily interest rate on deposits or 30-day fixed deposit with 15% Expected APY, available for both Bitcoin and Litecoin. The difference from HalleyBTC is the availability of Litecoin deposits here, however the 90-day Fixed deposit with 17% Expected APY is not available at OXBTC.

The other option you have is to invest in cloud mining hashrate and you again have the option to purchase both SHA256 hashrate for mining Bitcoin as well as Scrypt hashrate for mining Litecoin, just like on ZeusHash, however here you should also have the ability to trade the hashrate you have purchased. The market for trading BTC and LTC cloud mining hashrate however is still not operational apparently as the service has just launched, so it will most likely become active shortly. The regular price for cloud mining hashrate is 0.499 USD per GHS for Bitcoin hashrate (Maintenance Fee: $0.0009 / GHS / Day) and 13 USD per MHS for Litecoin hashrate (Maintenance Fee: $0.02 / MHS / Day). The prices here are a bit higher than they were at ZeusMiner, but the maintenance fee is a bit lower and OXBTC also offers Scrypt hashrate that is no longer available for quite some time at ZeusMiner.

The new platform might seem quite interesting to check out, however we would advice caution with it, because it is apparently being operated by the same people behind ZeusMiner and ZeusHash and we have seen some negative things from them. For example there were numerous issues with their cloud mining platform and even at the moment ZeusMiner is not fully functional, wallets are not working and you cannot withdraw any balances and mining does not seem to be working. Their other platform HalleyBTC does seem to be working fine for the moment, but we would still advice caution – better be safe than sorry. Still, more out of curiosity, we are going to be checking out the new service to see what they have made this time.

Low crypto currency exchange rates, difficulty for Bitcoin and Litecoin going down, more Scrypt ASICs getting cancelled… in a situation like this how can you actually make profit mining, especially if using a cloud mining service? Well, the good news is that most of the cloud mining services are still up and running with ROI times just getting even longer than before, so it is hard to talk about actually getting a profit at the moment. At the same time however some services that promised long term contracts with maintenance fees included in the price are struggling to survive – bad planning expecting the price of BTC to skyrocket short term or well planned long-terms scams, it is hard to tell. The fact is that at the moment it may not be the wisest idea to invest in cloud mining hashrate, especially if you are not going to be paying for the hashrate with cash, but with coins that you have already mined or purchased at higher price.

– Genesis Mining remains one of the preferred cloud mining services thanks to being more transparent and open on their hardware partners and mining farms and who is actually behind the service, and also by offering some innovative and interesting features to miners. Their prices may not be the best out there, but at least they are here to stay long term.

– Bitcoin Cloud Services is probably the closest competitor with very similar terms to PBMining and prices for the hashrate. There were some concerns about the service when it launched, but it is still here a few months later, paying daily and offering attractive terms. Though since the business model could also be the same as PBMining if you have concerns you might want to go for other alternatives as well.

– Scrypt.cc is one of the first Scrypt cloud mining services from back when Litecoin was still profitable to mine with GPUs. We’ve had some issues with the service when we started to use it, then later on they were apparently resolved, but their services are not among the most attractive as they still rely mostly on their GPUs farms.

– PBmining has been having some trouble for the last few weeks with claiming to be a result of blackmail and operators personal data about the service operators leaking. As a result the service is apparently a “failing business” in their own words and “recovery is trying to be made”, no more hashrate is being sold and weekly payments are at just about 5% or less of what they should normally be. If you were among the early users fo the service you might have made some profit, but for people that joined PBmining in the last weeks it could be a serious loss. It is not clear if all was due to bad business planning or if it was a scam, note that the website is still online and there are still some payments being made, but that could also change at any time.

– GAW Miners is a company that started selling ASIC miners, then moved into cloud mining and are now moving to the next step – introducing their own crypto coin and building an whole ecosystem around it. They are essentially moving away from cloud mining services and moving to another business that they see as a better and more profitable alternative, we are yet to see how things will develop on the long term.

– Hashie is a relatively new service, but since they have partnered with the AMHash mining farm and started reselling their hashrate they have become a good place to get hashrate from. They were confirmed as an official partner by AMHash, a large mining farm operated by ASIC manufacturers, so their trust level has gone up and the price they have for AMHash hashrate is currently very good compared to other similar services.

– Hashnest is service for buying cloud mining and renting actual hardware miners operated by Bitmain, another ASIC manufacturer. The service had some issues in the past, but it stil running and trying to improve. They have announced a market where users can trade hashrate and get a better price per GHS, but even though you might be able to get a good price for the hashrate their maintenance fees have been quite high.

– ZeusHash has transformed from an ASIC manufacturer to cloud mining service provider, but unfortunately since they are not making their own hardware anymore and they do rely on other partners for the mining hardware their terms are far from the best. What they do try to do is to attract users with various incentives, some of which may work well, others not, but in the end people want to make money from their investment in cloud mining and this service may not be the best place for that at the moment.

– Chabat Mining is another new service that has been grown quite a bit lately by offering very attractive Scrypt cloud mining hashrate prices, but with the not so favorable situation for LTC at the moment it is questionable how wise it is to invest in Scrypt cloud mining at the moment. We’ve been having some strange issues with the service’s website, like often not being able to actually see our current mining status, but no issues with payments so far.

– CEX was one of the first large could mining farms, however with their maintenance fees going higher and higher the profitability of the service has gone down significantly. So at the moment you can say that it is more like a large crypto currency exchange with some cloud mining options available to make something extra when trading with hashrate and not only crypto coins.

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